12 Beds
4 Baths
4,680 SqFt
12 Beds
4 Baths
4,680 SqFt
Key Details
Property Type Multi-Family
Sub Type Fourplex
Listing Status Active
Purchase Type For Sale
Square Footage 4,680 sqft
Price per Sqft $165
Subdivision Shartles Add
MLS Listing ID 7075302
Bedrooms 12
Year Built 1914
Annual Tax Amount $11,718
Tax Year 2026
Contingent None
Lot Size 6,098 Sqft
Lot Dimensions 47 x 126
Property Sub-Type Fourplex
Property Description
Ideal for investors seeking scale, operational efficiency, and long-term appreciation within the Minneapolis urban core.
Public Remarks: Exceptional investment opportunity in the heart of South Minneapolis! This well-maintained 4-plex at 3500 1st Ave S, Minneapolis, MN 55408 features four large 3-bedroom, 1-bath units with updated kitchens, stainless steel appliances, and separately metered utilities for streamlined management and tenant convenience.
The property generates strong rental income with average rents of approximately $1,600 per month per unit, plus additional garage income from the detached 3-car garage at $75 per stall monthly. Spacious layouts, functional floorplans, and consistent rental demand make this an attractive long-term hold with excellent cash-flow potential.
Ideally located near transit, restaurants, parks, shopping, and major Minneapolis amenities, this property offers both convenience and strong tenant appeal in a highly sought-after urban location.
Additional upside potential through the City of Minneapolis 4D Affordable Housing Incentive Program, which allows a new owner to reduce property taxes by up to 40% annually by enrolling qualifying units.
Perfect opportunity for investors seeking stable income and long-term appreciation or an owner-occupant looking to offset housing costs with substantial rental revenue.
Location
State MN
County Hennepin
Zoning Residential-Multi-Family
Rooms
Basement Full
Interior
Heating Boiler
Fireplace No
Exterior
Parking Features Detached Garage
Garage Spaces 3.0
Fence Privacy, Wood
Pool None
Roof Type Flat
Building
Lot Description Public Transit (w/in 6 blks)
Story Two
Foundation 2340
Sewer City Sewer/Connected
Water City Water - In Street
Level or Stories Two
New Construction false
Schools
School District Minneapolis
NEARBY SCHOOLS & PROPERTIES
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709 2nd Street South, Minneapolis, Minnesota, 55401, United States